In December 2017, OeEB contributed USD 15 million to a long-term credit line to Ecobank Transnational Incorporated, arranged by the Dutch development bank FMO. The funds are dedicated to financing local small and medium-sized enterprises (SME).
|Project name||Ecobank Transnational Incorporated|
|Sector||Financial sector / Microfinance / SME|
|OeEB project volume||USD 15 million|
|Projekt partner(s)||FMO, DEG, Proparco, BIO, Blue Orchard, Symbiotics, Oikocredit|
Ecobank Transnational Incorporated is the Togo-based holding company of Ecobank Group and will use the credit line to provide funding to a number of subsidiaries. Ecobank Group is one of the leading pan-African banking groups with a large customer base and presence in 36 African countries.
The credit line of USD 200 million in total will enhance Ecobank’s capacity to serve SME clients in some of the most underbanked countries in Africa. This will help strengthen the region's private sector and contribute to securing and creating jobs.